Frequently Asked Questions
Most frequent questions and answers about the Crypto Debit Terminal
For Merchants, Crypto.com Pay features zero transaction fees and 0.5% settlement fees. The other fees for Crypto.com are: 0.04% to 0.4% maker fees, 0.1% to 0.4% taker fees, plus 2.99% for credit card purchases. The fees for Crypto Debit are free for merchants. Only the customer pays – a small 5% fee at the time of purchase.
A physical Crypto Debit Terminal is optional. A wifi connection is all that is required to use your own tablet or smartphone to process transactions.
Cryptocurrency (or “crypto”) is a class of digital assets created using cryptographic techniques that enable people to buy, sell or trade them securely.
Unlike traditional fiat currencies controlled by national governments, cryptocurrencies can circulate without a monetary authority such as a central bank.
Cryptocurrencies are supported by a technology known as blockchain, which maintains a tamper-resistant record of transactions and keeps track of who owns what. Individual units of cryptocurrencies can be referred to as coins or tokens, depending on how they are used.
There’s no question that cryptocurrencies are legal in the U.S. and Canada, though China has essentially banned their use, and ultimately whether they’re legal depends on each individual country.
It is highly possible cryptocurrencies will surpass or replace fiat currencies at some point in the future because cryptocurrencies cannot be manipulated quite as easily as fiat currency.
Further, cryptocurrencies could help to get rid of intermediaries in everyday transactions which could cut costs for businesses and ultimately consumers.